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Would having planning permission in place add much value on resale?

(8 Posts)
frogthistle Wed 12-Aug-09 12:02:56

DH & are debating moving v soon or in a few years time - mainly for schools.

We have a 3 bed bungalow (with additional loft room) & have planning permission to extend both floors to create a 5 bed house with v large living space. Architect plans etc are available.

Does anyone have a feel for how much (if anything?) having planning permission in place might add to the value of the house?

We're not sure how much it's worth doing all or some of the work or just selling.

Cheers.

DidEinsteinsMum Wed 12-Aug-09 12:06:17

I think depending on how old the pp is will depend on the extra value but having the pp should increase the value

frogthistle Wed 12-Aug-09 12:12:55

PP awarded in Jan 09 & valid for three years. So quite recent.

SoupDragon Wed 12-Aug-09 12:14:18

Having watched programmes like "homes under the hammer" having the PP in place does seem to add value and make a property more appealing to a wider market but I couldn't quantify it.

SoupDragon Wed 12-Aug-09 12:16:34

Actually having the work done will cause a lot of mess and hassle for you though so you'd need to decide if it's worth that for the higher va;ue it should bring at the end. Ask and agent to value the property 1) as it stands tow PP and 2) if the work is completed as per the plans to a high standard.

SoupDragon Wed 12-Aug-09 12:18:07

Oh, and since you're moving mainly because of schools, ask yourself whether people would want a large family house in your area.

LIZS Wed 12-Aug-09 12:23:04

I would say probably. However it rather depends on whether those able to purchase the property at present are likely, in the current climate, to have the cash to start work within two years . Also whether the neighbourhood has other properties extended to that extent - ie. if it appeals mainly for retirement rather than families.

frogthistle Wed 12-Aug-09 13:25:56

Oooh, food for thought there Soupdragon and LIZS, thanks.

Our bungalow is one of only three on a street with mainly Edwardian (or 30s/50s detached) so we're the 'smallest house on the street'. Tree-lined, close to station & walking distance to town, 30 mins to West of London Waterloo etc etc. Estate agents would tell you it's desirable.

Infant schools are great, juniors & secondary have gone downhill since we moved in 4 years ago. Probably improving but...

So it would probably still sell if extended but it would also limit its market to larger families, rather than remaining interesting to retirees. Hmmmm.

Perhaps we should just modernise it as it is & move on? ponders

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